De La Rue open offer and Anglo Asian Mining AGM letter from CEO

De La Rue: (DLAR.L: FTSE Small Cap Index. Market Cap £168m, 148p, 1.2% of JIC Portfolio and 0.0 of JIC Top 10)

Last night I received a message from Hargreave Lansdown re the De La Rue open offer.

The offer is 7 new shares for every 16 held. The offer price is 110p.

For the JIC Portfolio with 4,119 shares, that means I am being offered 1,802 new shares and it will cost me £1983.

There is also the opportunity to apply for more, but whether one gets any will depend on other shareholders not taking up their allocation.

My intention is to take up my allotment, which at the current price would lead to a holding of around 1.7%. My target is for 2.0%, so I intend to apply for an extra 2000 shares. I don’t know how many of the extra I’ll get if any but if I got all of them, I would end up with a total position of 7,921, which at the current price of 148p would be around 2.3% of the JIC Portfolio.

Hargreave needs my answer by noon on Wednesday 1st July.

Cash in my account must be available at the same time, noon on Wednesday 1st July.

I currently only have £38 in the JIC Account and will, therefore need to raise £4,200. Given three-day trade settlement, to ensure the trade cash is in my account on time, I will sell something before Thursday evening. Watch this space!

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